Ed Balls calls for emergency tax cut

grizzly1911

chewmylegoff wrote: »

unless of course the bloke you pay cash in hand to do your building work, pays someone else cash in hand to do something else, who then buys some knock off gear from a mate, who then buys a second hand diesel BMW which he runs off used cooking oil.

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

I suppose the people you actually pay the cash to must at least buy something VAT able even if it's a chocolate bar from ASDA.

Even outside of VAT I understand that the self employed do have some scope to reduce their tax liability relative to PAYE guys by creative interpretation.

If they can achieve it then fair play but I wonder how much does slosh around in the black economy relative to the tax take.

Any one got any idea?

tomterm8

Vincent_Buenisedes wrote: »

Of course they will - less tax = more spending = more profits = more raised in taxes = less deficit. I would actually abolish all sales taxes and make up the shortfall with increased income tax.

So, how come when Labour lowered the VAT rate last parliament, the deficit widened?

grizzly1911

tomterm8 wrote: »

So, how come when Labour lowered the VAT rate last parliament, the deficit widened?

I think that probably had more to do with the built up inertia too little too late.

It is of limited benefit anyway and people just aren't confident to spend, even if they have the money.

As posters have said elsewhere Fuel and Power increases would simply dwarf it.

chewmylegoff

grizzly1911 wrote: »

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

I suppose the people you actually pay the cash to must at least buy something VAT able even if it's a chocolate bar from ASDA.

Even outside of VAT I understand that the self employed do have some scope to reduce their tax liability relative to PAYE guys by creative interpretation.

If they can achieve it then fair play but I wonder how much does slosh around in the black economy relative to the tax take.

Any one got any idea?

i only eat grey import chocolate myself.

re: self employed, if they are genuinely self employed - i.e. running a business, then yes. if they are just quasi-employees then technically no, although noone enforces the law, so they can.

if anyone knew the answer to your final question, then it wouldn't be called the black economy! i expect it is a lot more than i think.

Wookster

neverdespairgirl wrote: »

I would run a mile not to eat £1.10 per kg sausages. Yuck. Double yuck.

Lentils are usually about £1.80 per kg, but a kg of lentils is more food than a kg of sausages, because they are dried.

Talking of sausages, THE sausages to have are boerewors (http://www.thesavanna.co.uk/butchery/boerewors.html).

Best cooked on a BBQ without puncturing the skin or "steamed" in a frying pan in about 3/4 inches of water.

YUM.

neverdespairgirl

We only have beef or venison sausages though - the pork ones lack a certain Kosher-ness.....

Jennifer_Jane

Wookster wrote: »

Talking of sausages, THE sausages to have are boerewors (http://www.thesavanna.co.uk/butchery/boerewors.html).

Best cooked on a BBQ without puncturing the skin or "steamed" in a frying pan in about 3/4 inches of water.

YUM.

Agree! But think you mean 'braai' rather than BBQ! :beer:

Nothing like some boerie on the braai. Never heard of the steaming version, although know lots of people who like to pour beer over them.

Ponyo

Bullfighter wrote: »

I bought my silver from the channel islands. I was paying £6/oz (inc shipping) and they shipped all coins/bars individually, but at the same time.

I feel really stupid now. I guess I'll just have to sell some on ebay for £30 each and hide my face in shame....

Where did you buy from? was it sarniasilver.com or cisilver.com?

I like those half ounce coins from Australia for 17.99 I ordered one and it looks and feels great in your hand.

In November this year the limit for importing vat free will drop to 11GBP from the 18 it is now.

Hope the price of silver stays down for a while yet, I want to order a couple of those half ounce rounds every month until Nov, then maybe order quarter ounce rounds if they are under 11 including delivery.

vivatifosi

grizzly1911 wrote: »

If they can achieve it then fair play but I wonder how much does slosh around in the black economy relative to the tax take.

Any one got any idea?

Funnily enough I've been trying to find an answer to this question and have found answers ranging from 7% to 12.5% of the UK economy. Whichever estimate you take, the corresponding figures for the likes of Greece, Italy, Spain and Portugal are far higher (hovering around 1/4 of their economy), interestingly, of the PIIGS Ireland's black economy is more similar in size to ours.

This academic paper is interesting, if old (it is for 2003) in that it gives data for most countries for comparison:
http://www.dur.ac.uk/john.ashworth/EPCS/Papers/Schneider.pdf

property.advert

angrypirate wrote: »

...Its a shame he didnt win the Labour leadership - would have seem them out of power for a long long time

True. I was wishing it.

It would be like Labour under that fool Kinnock. Totally unelectable.